We offer both a complimentary credit application form, and for New Jersey companies, a minimal-cost consultation to improve your internal policies.

How Does a Good Internal Credit Policy Minimize Your Need for B2B Collections?

THE OUNCE OF PREVENTION

The ounce of prevention is your strategy for getting paid without the need for collections.

If drafted properly, your credit application should minimize the need for collections by providing:

Information that enables you to vet the customer before extending credit; and

Sales terms, which make it expensive for the customer not to pay you. For example, requiring the customer to pay interest on past due invoices, and to pay legal fees if you need to engage a collection lawyer, will motivate many customers to pay you before the need for commercial collections arises.

To Get Your Free Credit Application, Please Fill the Form Below

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(Note that providing this form does not constitute legal advice or establish an attorney-client relationship)

How Does A Good Internal Collection Policy Maximize Your Recovery When a Collection Suit Is Necessary?

THE POUND OF CURE

The pound of cure is your ability to

Establish the customer’s liability and damages if you ever have to sue; and

Locate the customer’s assets so you can collect on a judgment.

A good credit application will help you on both counts, by

Setting forth your sales terms; and

Providing information that makes it easier to find bank accounts.

In terms of establishing the debtor’s liability, it’s crucial to keep copies of all correspondence and notes of all conversations. For example, this is important to

Establish that the debtor admitted (or failed to deny) owing you the money; and

Prevent the debtor from manufacturing a defense later, after the fact.

You also want to keep copies of all checks and wire payments received, which can help you find bank accounts post-judgment.

How We Can Help You Improve Your Internal Policies

For a minimal flat fee, we offer New Jersey companies a consultation to review your credit and collection policies. Based on the results of the review, we will issue a report with recommendations. If you later engage us for your New Jersey debt collections, we will credit the consultation fee against our legal fee.

North Jersey

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Disclaimer:

The material on this web site is for informational purposes only and should not be construed as legal advice on any subject matter. No person should act or rely on the information in this site without seeking the advice of an attorney.

Please be aware that sending an email to this firm does not create an attorney-client relationship, which requires a written agreement.